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EADB, China Bank seal deal

By Vision Reporter

Added 4th July 2006 03:00 AM

THE East African Development Bank (EADB) and China Development Bank (CDB) have signed a cooperation agreement. The two banks signed the agreement during a three-day visit by the Governor of the CDB, Chen Yuan to Uganda recently.

THE East African Development Bank (EADB) and China Development Bank (CDB) have signed a cooperation agreement. The two banks signed the agreement during a three-day visit by the Governor of the CDB, Chen Yuan to Uganda recently.

By Vision Reporter

THE East African Development Bank (EADB) and China Development Bank (CDB) have signed a cooperation agreement. The two banks signed the agreement during a three-day visit by the Governor of the CDB, Chen Yuan to Uganda recently.

According to the agreement, the two institutions will mutually finance agreed projects in the three East African states.
Yuan expressed CDB’s interest in establishing a long-term relationship with EADB, and stated CDB’s intention of getting involved in regional infrastructure and agricultural projects.

The CDB is the largest development finance institution in the world with assets of over$300b.

Godfrey Tumusiime, the EADB’s director general, expressed EADB’s willingness to cooperate with CDB especially at this time when EADB is poised to be transformed into the leading agency for facilitation of East African regional integration and development.

The two institutions are expected to cooperate in agency establishment, personnel training, information exchange and financing of commercially viable projects in infrastructure and agriculture.

EADB, China Bank seal deal

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